According to the latest report by IMARC Group, titled “India Switchgear Market Share, Size, Industry Trends, Growth, Opportunity and Forecast 2022-2027″, the India switchgear market is expected to exhibit a CAGR of 7.1% during 2022-2027.
Switchgear represents the switching device that is used for controlling, regulating, and switching an electrical circuit. It generally comprises of fuses, circuit breakers, isolators, relays, current and potential transformers, switches, indicating instruments, lightning arresters, control panels, etc. Switchgears safeguard equipment from short-circuits and provide protection to individuals by limiting the current flow via the system to safe levels. In addition to this, they are highly reliable, can be controlled manually, and enhance the energy efficiency of a facility. Consequently, switchgears find wide-ranging applications across several sectors, such as residential, commercial, industrial, etc.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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India Switchgear Market Trends and Drivers:
The rising consumer awareness towards adopting renewable energy sources, including solar, water, wind, etc., is primarily driving the India switchgear market. Additionally, the implementation of various stringent regulations by government bodies that mandate the usage of smart grids and smart meters for accurate billing and to reduce technical losses is further catalyzing the market growth.
Besides this, the escalating demand for gas-insulated switchgears (GIS) in confined spaces, such as roofs, city buildings, office spaces, offshore platforms, extensions, industrial and hydropower plants, etc., owing to their reliability, cost-effectiveness, flexibility, environment-friendliness, etc., when compared with the air-insulated switchgears (AIS), is acting as another significant growth-inducing factor.
Moreover, the expanding transmission and distribution (T&D) networks and numerous technological advancements in the power distribution sector are anticipated to fuel the India switchgear market over the forecasted period.
|India Switchgear Market Report Scope|
|Growth Rate||CAGR of 7.1% from 2022 to 2027|
|Base year for estimation||2021|
India Switchgear Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
The report has segmented the market on the basis of region, voltage type, insulation, installation and end use.
Breakup by Voltage Type:
Breakup by Insulation:
- Gas Insulated Switchgear (GIS)
- Air Insulated Switchgear (AIS)
Market Breakup by Installation:
Breakup by End Use:
Breakup by Region:
- North India
- West and Central India
- South India
- East India
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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